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Non-Tech : Sungold Gaming International (SGGNF)
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To: Taylorm. who wrote (2859)10/29/1998 5:58:00 PM
From: John Lawrence  Read Replies (2) of 5164
 
The SEC initiative against misleading promotions on the Internet.

The recent actions taken by the SEC appear to have been primarily directed towards establishing their right to regulate the use of the Internet. There have been companies who get paid to circulate promotional information on the Internet who have not fully disclosed the fact that they get paid to do so. That practice is at best misleading, and most Internet users are probably appreciative that the SEC is exercising its authority. Apparently, the SEC has raised the bar in its recent initiative, and is now requesting disclosure of dollar values for fees.

Ed Taxin has a business show which includes presentations by a wide spectrum of people. Some pay to be on the show, and some do not. Sungold sought legal advice, and properly disclosed to the regulatory authority, its intentions to appear on air prior to the appearances. Mr. Hart has always been introduced on these shows as the CEO of Sungold, and Mr. Taxin has stated on air that he has been paid a fee by Sungold. In light of the recent actions taken by the SEC, Mr. Taxin has made adjustments and is now complying with the request to specify the dollar values of any fees paid. His shows continue.

And now to add my two cents worth - I can't imagine that any informed investor doesn't know that every bit of financial advice presented in the media represents a vested interest of some kind, whether it's disclosed or not. The payment of fees to various media who assist in circulating companies' stories is an established business practice - provided that disclosure rules are met. We can be sure that many of the companies, such as Sungold, who have used Taxin's or other similar services, have been, and will continue to be in full compliance with SEC regulations.
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